Mustang Energy Corp. Shares 2024 Year-End Recap and Milestone Achievements

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VANCOUVER, British Columbia, January 03, 2025 (GLOBE NEWSWIRE) – Mustang Energy Company (CSE: MEC, OTC: MECPF, FRA:92T) (the “Company” or “Mustang”) is pleased to share a summary of its achievements since trading in mid-2024. The Company has made significant strides in its mission to develop important, high-potential uranium and mineral assets in the Basin. Athabasca, Saskatchewan, cementing its position as a growing leader in the resource exploration sector.

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Highlights for 2024:

• Land acquisitions: Land holdings expanded to an impressive level 77,318 hectaresis strategically located in and around the Athabasca Basin, a prominent uranium region.
• Raised capital: It has been successfully secured $4.2 million in total revenues, providing a strong financial foundation for ongoing and upcoming 2025 operations.
• Exploration developments: A Phase 1 work plan has been launched to identify and develop high priority drilling targets across the Mustang Group.
• Strategic cooperation:Partnering with industry leaders, incl Red Cloud Securities Company, Axiom Group, Dharooj Geological Consulting Companyand SKY HARBOR RESOURCES LIMITED.
• Key additions to the team:
  • Jordan TrimblePresident and CEO of Skyharbour Resources, joins as A Strategic advisorbringing invaluable industry experience.
  • Lind Guillaume She joins the team, enhancing the Mustangs’ leadership with her wealth of experience and dynamic contributions.

Notable project developments:

Mustang properties are strategically located near known uranium assets, including:

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• Lake Ford: 12 km from Key Lake Mill in Cameco and 15 km southwest of Millennium Deposit.
• Eastern Cigar Lake and Southern Roughrider: 20 km east of the world-class Cigar Lake mine, and 10 km south of the Roughrider deposit.
• Yellowstone property: Surrounding the Carswell Impact Structure, 10 miles from the historic Loch Cloof Mine.
• Dutton Project: Located about 20 km from Lake Dufferin in Cameco and Centennial Deposits.

Summary of key achievements for 2024:

• December 27th: Closed financing exceeds expectations, raising $3.5 million.
• December 20: Expanding the land portfolio with 17929 hectares Southern Athabasca Basin.
• December 6: achieved the first milestone of option agreement with SKY HARBOR RESOURCES LIMITED.To secure the option to acquire 75% of the uranium 914W project.
• November 25: Announcement of strategic financing for Up to $3 million And engaged Red Cloud Securities Company For corporate consulting services.
• November 13: An option agreement to acquire Skyharbour’s 914W uranium project has been entered into and welcomed Jordan Trimble As a strategic advisor.
• October 30: Airborne started MobileMT Survey In the Yellowstone project, conductors are targeted at depths exceeding 1,000 metres.
• September 27: Acquisition of 90% of Brown Lakeand expanding Ford Lake holdings.
• September 16: Welcome Lind Guillaume for the team, marking a pivotal moment in building the Mustangs’ leadership strength.
• June 7: Relaunching trading on the Canadian Securities Exchange under the name Mustang Energy Corp.

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CEO statement

Nicholas Loksha, CEO of Mustang, expressed confidence in the company’s trajectory:
“2024 has been a transformative year for Mustang. We have built a solid foundation through strategic land acquisitions, innovative exploration initiatives, and strong financial support. Our partnerships with leading industry players allow us to unleash the potential of our assets. As we look to 2025, We expect to be in a great position to succeed and deliver results for our valued shareholders and are committed to developing our projects with precision, purpose and a clear vision for growth.

Adjacent Properties Disclaimer:

This press release includes references regarding known uranium occurrences at the Main Lake Cameco Mine, the Millennium Deposit, the Cigar Lake Mine, the Roughrider Deposit, the area surrounding the Carswell Impact Structure, the Clove Lake Mine, Lake Dufferin and the Centennial deposits at Cameco (collectively, the “Neighboring properties“), which are located in close proximity to the Company’s various properties. The Company advises that despite its proximity to the site, the mineral discoveries in adjacent properties and any promising results thereof do not necessarily indicate mineralization or presence therein of the Company’s properties, or the Company’s ability to commercially exploit its properties, or To determine any commercially exploitable deposits thereof, the Company cautions investors not to rely on this information as the Company has not confirmed the accuracy or reliability of the information.

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Statement of qualification

The scientific and technical information contained in this release has been reviewed and approved by Linde Guillaume, P.Geo., Technical Advisor to Mustang, and a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Ms. Guillaume is a qualified person as defined in National Instrument 43-101.

About Mustang Energy Company

Mustang is a resource exploration company dedicated to the acquisition and development of uranium and significant mineral assets in the Athabasca Basin, Saskatchewan. with 77,318 hectares From promising properties, Mustang aims to advance its flagship Ford Lake, Yellowstone, Cigar Lake East, Roughrider South, Dutton and Spur projects, leveraging strategic partnerships to accelerate exploration.

The company’s commitment to innovation, collaboration and sustainable development underscores its vision to become a leading player in the global energy transition.

On behalf of the Board of Directors
“Nicholas Luksha”
Nikola Loksha
CEO and Director

For more information, please contact:
Mustang Energy Company
Attn: Nicholas Loksha, CEO and Director
Phone: (604) 838-0184

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Forward-looking statements: This press release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of the company’s management with respect to future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends,” “believes,” or “expects,” or variations of such words, phrases or statements that indicate certain actions, events or results, “may,” or “may.” “could”, “should”, “might” or “occur”. Such information and statements, referred to herein as “forward-looking statements”, are not historical facts, are made as of the date of this press release and include, without limitation, statements related to plan discussions and forward-looking estimates, forecasts and statements. To management’s expectations and intentions regarding, among other things, the future potential of mineral claims held by the Company and the completion of future work on its projects in making the forward-looking statements in this press release, the Company has applied various material assumptions, including: Without limitation, the assumption that the Company will be able to continue exploration of its properties in light of various environmental and economic factors beyond its control even though management of the Company has attempted to identify important factors that could cause actual results to differ materially than those contained in forward-looking statements or forward-looking information, but there may be other factors that cause the expected, estimated or intended results not to be achieved. Such statements cannot be guaranteed to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on this information may not be appropriate for other purposes. The Company undertakes no obligation to update any forward-looking statement, forward-looking information or financial projections incorporated by reference herein, except in accordance with applicable securities laws.

Neither the CSE nor its market regulator (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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